WALDORF, Md., March 17, 2023 /PRNewswire/ — First National Realty Partners, LLC (FNRP) announced the addition of Waldorf Marketplace to its grocery-anchored property portfolio. The purchase of the 359,484 SF asset reflects the vertically integrated real estate investment firm’s rapid expansion in Maryland as it continues its nationwide growth.
Waldorf Marketplace is anchored by a 58,092 square-foot, market dominant Safeway grocery store, a subsidiary of Albertsons, which has been a tenant since 2005. In addition to Safeway, the center features a high-quality mix of national and regional retailers including Hobby Lobby, Jared, Petco, Starbucks, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. The remaining vacant space in the center provides meaningful upside potential for First National Realty Partners to drive value by way of increased occupancy levels and enhanced cash flow.
“With its high-quality tenant roster and desirable location, Waldorf Marketplace offered us an ideal opportunity to continue to expand our footprint in the area,” said Matt Annibale, senior director of acquisitions.
Located in a densely populated retail corridor near Washington DC, Waldorf is considered the gateway to Charles County, one of the wealthiest residential areas in the United States. With an estimated 50% of the county’s population and 60% of its businesses in the Waldorf region, Waldorf Marketplace benefits from a well-positioned location along the highly trafficked intersection of Western Parkway and Berry Road.
The addition of Waldorf Marketplace marks First National Realty Partners’ fourth acquisition in the DMV-Metropolitan area. Previous acquisitions include Brandywine Crossing, Haymarket Village Center, and the Promenade at Manassas.
About First National Realty Partners
First National Realty Partners (FNRP) provides accredited investors with access to commercial real estate assets that traditionally have been available only to institutional investors. Specializing in grocery-anchored, necessity-based retail product, FNRP sources opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. The firm strives to achieve maximum value and attractive risk-adjusted returns for its partners. Learn more at fnrpusa.com
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First National Realty Partners
SOURCE First National Realty Partners, LLC